S&T Bancorp (NASDAQ:STBA) Hits New 52-Week High - Time to Buy?

Key Points

• S&T Bancorp hit a new 52-week high, trading as high as $50.69, reflecting strong recent share performance above its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: the stock’s consensus rating is Hold, with a consensus price target of $46.60, though Piper Sandler recently raised its target to $51 and some firms still rate it a buy.
• The company posted solid fundamentals, including Q1 EPS of $0.94 versus $0.87 expected, and it recently increased its quarterly dividend to $0.37 per share, implying a 2.9% annual yield.

S&T Bancorp, Inc. (NASDAQ:STBA - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $50.69 and last traded at $50.6960, with a volume of 45082 shares. The stock had previously closed at $49.33.

Analyst Ratings Changes

STBA has been the topic of a number of research reports. Wall Street Zen raised shares of S&T Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Piper Sandler lifted their price target on shares of S&T Bancorp from $45.00 to $51.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of S&T Bancorp in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, S&T Bancorp currently has an average rating of "Hold" and a consensus target price of $46.60.

S&T Bancorp Price Performance

The business has a fifty day moving average of $46.60 and a 200 day moving average of $43.72. The firm has a market cap of $1.83 billion, a P/E ratio of 14.22 and a beta of 0.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.07. S&T Bancorp had a return on equity of 9.35% and a net margin of 23.71%.The company had revenue of $102.08 million during the quarter, compared to analysts' expectations of $103.62 million. On average, sell-side analysts anticipate that S&T Bancorp, Inc. will post 3.75 earnings per share for the current year.

S&T Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.37 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from S&T Bancorp's previous quarterly dividend of $0.36. S&T Bancorp's dividend payout ratio is 41.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STBA. Royal Bank of Canada lifted its position in S&T Bancorp by 10.1% during the first quarter. Royal Bank of Canada now owns 13,147 shares of the financial services provider's stock worth $487,000 after acquiring an additional 1,206 shares during the last quarter. AQR Capital Management LLC grew its position in shares of S&T Bancorp by 54.9% in the first quarter. AQR Capital Management LLC now owns 36,148 shares of the financial services provider's stock valued at $1,339,000 after purchasing an additional 12,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of S&T Bancorp by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,756 shares of the financial services provider's stock worth $843,000 after purchasing an additional 1,086 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in S&T Bancorp by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,837 shares of the financial services provider's stock worth $3,884,000 after purchasing an additional 7,286 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in S&T Bancorp during the 1st quarter worth approximately $4,211,000. Institutional investors and hedge funds own 65.22% of the company's stock.

S&T Bancorp Company Profile

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company's main business activities encompass a full suite of retail and commercial banking products.

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